News

Childcare Account chores

25/04/2024

HMRC’s Childcare account can be used to claim free childcare (if eligible) or pay for Tax-Free Childcare. HMRC’s sign in page for the account states that in order ‘…to keep getting free childcare or Tax-Free Childcare, you must sign in every 3 months and confirm your details are up to date’. There are various eligibility rules that must...

More...

Do’s and don’ts for Standard Visitors to the UK

25/04/2024

There is useful guidance published on GOV.UK that explains the do’s and don’ts for Standard Visitors to the UK. Visitors to the UK who are classed as a ‘Standard Visitor’ are allowed in the UK for tourism, business, study (courses up to 6 months) and other permitted activities. Permitted activities include the following: for tourism,...

More...

Bikes for employees

25/04/2024

The Cycle to Work scheme allows employers to provide bicycles and cyclists’ safety equipment to employees as a tax-free benefit. The scheme must be offered to all employees and the bike must be used mainly for qualifying journeys i.e., between home and work. However, private use of the bike is also allowed. Where the scheme conditions are...

More...

Tax-free home sales

25/04/2024

In general, there is no Capital Gains Tax (CGT) liability created when a property used as the main family residence is sold. An investment property which has never been used as a home will not qualify. This relief from CGT is commonly known as private residence relief. Taxpayers are entitled to full relief from CGT when all of the...

More...

Transferring unused nil rate band for IHT

25/04/2024

The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a direct descendent such as children or grandchildren after their death. The allowance increased to the present maximum level of £175,000 from 6 April 2020. The...

More...

Checking your National Insurance records

25/04/2024

There is an online service available on HMRC to check your National Insurance Contributions (NIC) record online. The service is available at https://www.gov.uk/check-national-insurance-record In order to use this service, you will need to have a Government Gateway account. If you do not have an account, you can apply to set one up...

More...

Tipping boost

24/04/2024

The government’s Tipping Act is a step closer to coming into force, as the Code of Practice is published and laid before Parliament. The new Code of Practice will protect the tips of more than 2 million workers giving them a fair share of the tips received by a company. Millions of UK workers are set to take home an estimated £200...

More...

Smart energy

24/04/2024

In a recent press release, the Department for Energy Security and Net Zero confirmed that consumers are set to benefit from cheaper and more convenient energy deals as part of new measures to create a smart, flexible electricity system to help save money on bills. They said: “New proposals set out in a recent consultation will...

More...

Payrolling employee expenses and benefits

18/04/2024

Employers can register on a voluntary basis (before the start of the tax year) to report and account for tax on certain benefits and expenses via the RTI system. This is known as payrolling and removes the requirement to complete a P11D for the selected benefits at the tax year end. Registration is now open to payroll your benefits from...

More...

Changes to Scottish Income Tax rates 2024-25

18/04/2024

A reminder of the changes to Scottish Income Tax rates for the 2024-25 tax year. It was announced as part of the Scottish Budget measures that a new tax band called the advanced rate band will apply a 45% tax rate on annual income between £75,000 and £125,140 and would come into effect from 6 April 2024. In addition, 1p was added to the...

More...

Contact Us

The Glen, Knutsford Old Road
Warrington WA4 2LD

01925 602 027

Email: info@davidsonstant.co.uk

Memberships

ICAEW BLK RGB

 

Newsfeed Search


Follow Us

    linedinlog